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Jul 6, 2011
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first, we waged two wars in iraq and afghanistan, and we didn't pay for them. i think back in my history, and i can remember as a kid that every birthday i would receive a savings bond, u.s. savings bond. and i used to think it was interesting, they would hand me these $25 savings bonds and i knew they cost $18.25 but if i didn't do anything and held on to them, they would be worth $25. grandma and grandpa would give me the $25 savings bond and i knew it cost $18.25. those savings bonds is how we fund wars. americans sack tpaoeuzed -- sacrificed and they bought savings bonds. it was my family tradition. it was the tradition in america. when it came to the two most recent wars -- iraq and afghanistan -- it didn't happen. we borrowed the money from other countries. during that eight-year period of time under president bush, we wage twaod wars and borrowed the money and added it to the national debt. and we did something else. no president in the history of the united states of america ever has cut taxes in the midst of a war. and you know why? because you have yo
first, we waged two wars in iraq and afghanistan, and we didn't pay for them. i think back in my history, and i can remember as a kid that every birthday i would receive a savings bond, u.s. savings bond. and i used to think it was interesting, they would hand me these $25 savings bonds and i knew they cost $18.25 but if i didn't do anything and held on to them, they would be worth $25. grandma and grandpa would give me the $25 savings bond and i knew it cost $18.25. those savings bonds is how...
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Jul 19, 2011
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so when members of congress say continue the war in afghanistan, afghanistan, $10 billion a month, they are saying we're prepared to borrow $4 billion every single month to keep that promise. so the president comes to us about once a year and says i need more authority to continue to borrow money to pay for the things that you have asked us to do. that's what it comes down to. now, nobody likes to vote for the debt ceiling because it is so widely misunderstood. most people basically say i don't want to be associated with it. i have been guilty of that in my political career, but the fact is most of us look over our shoulders at the final vote and say we better pass this darn thing because if we don't, we will default on our debt. the full faith and credit of the united states of america is like our credit score. guess what? we have the best in the world. of all governments in the world, we have the best. aaa. it doesn't get any better, and it's always been there. and that has helped us. it's helped us not only to borrow money at lower interest costs but the fact that our economy has loo
so when members of congress say continue the war in afghanistan, afghanistan, $10 billion a month, they are saying we're prepared to borrow $4 billion every single month to keep that promise. so the president comes to us about once a year and says i need more authority to continue to borrow money to pay for the things that you have asked us to do. that's what it comes down to. now, nobody likes to vote for the debt ceiling because it is so widely misunderstood. most people basically say i don't...
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Jul 20, 2011
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i disagree with a strategy where we're spending $100 billion to $120 billion in afghanistan in a strategy of nation building that is not the best use of our national security, not the best use of our soldiers who are there to fight for our national security, but those are decisions that were made in the past. and we must pay the bill on those decisions even when i disagreed with them. and then we need to put together a plan that takes on our deficit and our debt, and that plan has to put all of the options on the table. some of my colleagues across the aisle, they said, well, we want to protect the tax spending programs where we've tucked in tax provisions for the wealthy and the well connected. we want to defend those. we don't want to touch those for the best-off americans. but we want to cut the programs for working americans. that is unacceptable. we have seen enormous increase in the disparity between the wages and welfare of our citizens in general and the best-off becoming much, much wealthier proportionately. we can't continue to say that we're going to protect the well-connected
i disagree with a strategy where we're spending $100 billion to $120 billion in afghanistan in a strategy of nation building that is not the best use of our national security, not the best use of our soldiers who are there to fight for our national security, but those are decisions that were made in the past. and we must pay the bill on those decisions even when i disagreed with them. and then we need to put together a plan that takes on our deficit and our debt, and that plan has to put all of...
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Jul 6, 2011
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right now there are 140,000 brave americans risking death and injury in afghanistan and iraq. do we reduce our responsibility to them because republicans don't want to burden millionaires? additionally, payments to doctors under medicare, medicaid could be suspended. where do the seniors and needy americans turn then in the event of an urgent medical problem? at a time when nearly 14 million americans are out of work and struggling to keep food on the table, unemployment benefits could lapse. we're talking about the possibility of people without incomes, people unable to sustain their basic needs. in addition to destroying the safety net for ordinary americans, a default crisis would likely threaten america's position as the economic giant of the world, as we see the possibility of widespread panic on wall street and the damage to the credit markets that could lead to the loss of millions of jobs across the country. the question has to be answered, mr. president: why are the republicans willing to walk on this economic tightrope to win favor among wealthy contributors? it's be
right now there are 140,000 brave americans risking death and injury in afghanistan and iraq. do we reduce our responsibility to them because republicans don't want to burden millionaires? additionally, payments to doctors under medicare, medicaid could be suspended. where do the seniors and needy americans turn then in the event of an urgent medical problem? at a time when nearly 14 million americans are out of work and struggling to keep food on the table, unemployment benefits could lapse....
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Jul 6, 2011
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-- or afghanistan, then iraq. both wars totaling well over a trillion, $2 trillion. that will ultimately, both of those, the tax cuts and the wars, accounts for about $7 trillion in deficits in 2009 and going forward. now, madam president, the facts are clear. the tax cuts that president bush put in place contributed to the deficit and the revenues have got to be addressed if we're employing to go forward -- if we're going to go forward and deal with this. federal revenues today, the money the government takes in, is at its lowest level since 1950. we've had a 60% reduction in revenue and a 60% increase in expenditures. and right now, we're at the lowest level of revenue taken in that we've been at since the 1950's. and there are only about 14% of the total g.d.p. the fact is that the last five times we balanced the budget, those revenues were about19% or 20% of g.d.p. so here we are at 14%. we've balanced the budget five times previously. and the revenues were at about 19.5% to 20% of g.d.p. doesn't that tell us
-- or afghanistan, then iraq. both wars totaling well over a trillion, $2 trillion. that will ultimately, both of those, the tax cuts and the wars, accounts for about $7 trillion in deficits in 2009 and going forward. now, madam president, the facts are clear. the tax cuts that president bush put in place contributed to the deficit and the revenues have got to be addressed if we're employing to go forward -- if we're going to go forward and deal with this. federal revenues today, the money the...
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Jul 25, 2011
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and they swept across afghanistan controlling 90% of afghanistan. this fighting eruption -- taliban, al-qaeda -- saw four million refugees into pakistan. the introduction of a gun, kalashnikov, and drug culture. finally in 9/11, the terrible, disastrous terrorist attack on the world trade center and the u.s. military offense e in afghanistan -- offensive in afghanistan, all al-qaeda and taliban ran into the mountains and be cities of pakistan. therefore, ladies and gentlemen, religious mill tap si we saw -- militancy we saw in the east in the indian-held kashmir, religious militancy in afghanistan is followed entirely on -- has fallen entirely on pakistan in the center. this is how religious militancy was introduced. we are not the perpetrators. the situation in pakistan was perfectly normal until 1979, but things started getting disturbed after that for the reasons that i've told. pakistan, therefore, ladies and gentlemen, faces four menaces, i would say. number one is the menace of al-qaeda who are there in our mountains. but i think over time the
and they swept across afghanistan controlling 90% of afghanistan. this fighting eruption -- taliban, al-qaeda -- saw four million refugees into pakistan. the introduction of a gun, kalashnikov, and drug culture. finally in 9/11, the terrible, disastrous terrorist attack on the world trade center and the u.s. military offense e in afghanistan -- offensive in afghanistan, all al-qaeda and taliban ran into the mountains and be cities of pakistan. therefore, ladies and gentlemen, religious mill tap...
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Jul 1, 2011
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terrorists captured outside the territory of afghanistan? >> is not her attention. >> following up, admiral, with respect to detention, if we were to capture all that was yuri -- although heery and gather intelligence in detaining him long-term because we thought we needed to underlie floor, where would we hold? >> yes, ma'am, that is a policy question i am not in a position to answer from the military standpoint. obviously we can hold al-zawahiri or anywhere al-awlaki in a number of places. it becomes a policy issue and general allen said we afflict a number times that whether or not we do that in afghanistan. but the nature of the sovereignty of afghanistan and concerned about potential backlash from the afghan government, we have recommended not to do that. >> admiral, would it not be hopeful 10 years into the war on terror to have a long-term detention and interrogation facility that would be secure for individuals wearing a together further intelligence? >> i believe would be very helpful. >> as far as you understand it, is guantÁnamo
terrorists captured outside the territory of afghanistan? >> is not her attention. >> following up, admiral, with respect to detention, if we were to capture all that was yuri -- although heery and gather intelligence in detaining him long-term because we thought we needed to underlie floor, where would we hold? >> yes, ma'am, that is a policy question i am not in a position to answer from the military standpoint. obviously we can hold al-zawahiri or anywhere al-awlaki in a...
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Jul 14, 2011
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let's start with afghanistan and iraq. we're spending $168 billion in iraq and afghanistan this year alone. $168 billion. this year, fiscal year 2011, we're spending more than $13 billion to train the iraqi and afghan security forces. $13 billion. okay. what did we spend here in america to retrain our workers so they can get new jobs? less than $10 billion. we're spending more money to train afghan and iraqi forces, security forces than we're spending to retrain our own workers all over america. 24 million americans unemployed or underemployed and yet we're spending $168 billion this year on afghanistan and iraq. again, i applaud the president for the actions he's taken, but quite frankly, mr. president, they don't go far enough. the president should have a faster timetable for our troops to get out of afghanistan. i've said is that publicly many times. if you really want to save some money, save that $1 million that it costs to keep one soldier in afghanistan and get them back here. we went to afghanistan to get the talib
let's start with afghanistan and iraq. we're spending $168 billion in iraq and afghanistan this year alone. $168 billion. this year, fiscal year 2011, we're spending more than $13 billion to train the iraqi and afghan security forces. $13 billion. okay. what did we spend here in america to retrain our workers so they can get new jobs? less than $10 billion. we're spending more money to train afghan and iraqi forces, security forces than we're spending to retrain our own workers all over...
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Jul 11, 2011
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involvement in afghanistan and iraq. and as we'll hear from general d dudick, there's 400,000 in afghanistan. and the u.s.-led training effort is now as of this week 157,000 police, the cost of this training to the united states alone is about a billion dollars a month. today police assistance programs for the united states government are a multibillion dollar effort led by the department of defense and the department of state but involving a number of other federal agencies. as programs have grown in size and in costs they've also grown in kind. as you saw from the opening photo exhibition running here on the screens, policing around the world is heavily impacted by history, by culture, by legal systems, and by levels of development. the police force is different markedly by country, u.s. police assistance differs markedly by agent and by agency in the countries in which they are working. so today, we have assembled a panel of very distinguished experts to discuss the various experts that the united states government ta
involvement in afghanistan and iraq. and as we'll hear from general d dudick, there's 400,000 in afghanistan. and the u.s.-led training effort is now as of this week 157,000 police, the cost of this training to the united states alone is about a billion dollars a month. today police assistance programs for the united states government are a multibillion dollar effort led by the department of defense and the department of state but involving a number of other federal agencies. as programs have...
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Jul 8, 2011
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cam pays in afghanistan -- campaigns in afghanistan wrapping up activities in iraq, and a new openness that the obama administration has pushed forward. and openness was, has been portray inside the space policy -- portrayed about in the space policy that you hear about now. more of a focus on international cooperation and a look at a different blend of space players in our industrial base, not only the companies that focus on the programs of record, but also the emergence of entrepreneurial and commercial space company. to talk about the obama policy, we have two gentlemen today. first, we have jim cullenberger. jim has a lengthy resumÉ, but i will focus on his time focusing on space policy, and that was as chief of staff for the obama white house, chief of staff for the office of science and technology policy. following jim, we have peter marquez. peter served under both the bush and the obama administrations working space policy, and at that time he was the director of space policy at the white house. but first we're going to start with jim. >> well, thank you, david. and it's grea
cam pays in afghanistan -- campaigns in afghanistan wrapping up activities in iraq, and a new openness that the obama administration has pushed forward. and openness was, has been portray inside the space policy -- portrayed about in the space policy that you hear about now. more of a focus on international cooperation and a look at a different blend of space players in our industrial base, not only the companies that focus on the programs of record, but also the emergence of entrepreneurial...
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Jul 12, 2011
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. -- in iraq or afghanistan. sergeant first class petrie's story is one of courage and sacrifice and immense love of country. it's a story that began years ago in santa fe with a young plan who struggled in high school but refused to give up and instead buckled down, dug deep, and found the hero within. a hero to the men he saved on that fateful day in afghanistan and a hero to all americans who owe their freedoms to our brave men and women in uniform. it's the story that day in may of 2008 that i'd like to tell you about today. sergeant first class petrie was a member of the 75th ranger religious when he and -- regimen when he and his fellow soldiers were to capture. they were engaged in a fire fight when several in their regimen were pinned down by grenades. petrie had already been wounded by bullet fishings shot through both legs by a hidden enemy. but he didn't a how his wounds to stop him. pinned inside a courtyard with a fellow ranger, he continued the fight calling in support and creating a brief pause in
. -- in iraq or afghanistan. sergeant first class petrie's story is one of courage and sacrifice and immense love of country. it's a story that began years ago in santa fe with a young plan who struggled in high school but refused to give up and instead buckled down, dug deep, and found the hero within. a hero to the men he saved on that fateful day in afghanistan and a hero to all americans who owe their freedoms to our brave men and women in uniform. it's the story that day in may of 2008...
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Jul 5, 2011
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they came to afghanistan not because they were attacked but because we were attacked. they were our friends, they're our allies. they've been with us trying to make sure afghanistan never goes back into the darkness, a place to attack us or them again. so when they need us, i would tell president obama, now's not the time to sit on the sidelines. i know we're a war weary nation, but there is no upside to qadhafi staying in power. that is a national security nightmare for this country. here's a recent headline. "qadhafi threatens to attack european over airstrikes. colonel qadhafi has threat inned to carry out attacks against homes, offices in europe unless nato calls off the airstrikes in libya." he actually means it. hitler meant it. he means it. so we should be talking about the debt. we're not. we should be taking a stand against qadhafi in an effective way. and as you said, senator mccain, we're leading from behind. and i just cannot tell you how upset i am with policies coming from this administration that are sending a signal to our allies that we're not as relia
they came to afghanistan not because they were attacked but because we were attacked. they were our friends, they're our allies. they've been with us trying to make sure afghanistan never goes back into the darkness, a place to attack us or them again. so when they need us, i would tell president obama, now's not the time to sit on the sidelines. i know we're a war weary nation, but there is no upside to qadhafi staying in power. that is a national security nightmare for this country. here's a...
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Jul 28, 2011
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an example, the war in afghanistan. some of the most conservative senators on the other side of the aisle not only want us to wage this war but to stay there and keep spending money. know what it costs? it costs $10 billion a month for us to protect our troops in afghanistan. for every dollar that we spend, every dollar that we spend, whether it's on the war, on food stamps, on missiles, on highways, for every dollar we spend we borrow 40 cents. we shouldn't be borrowing all this money, but we do because congress says there are certain things we've got to do as a nation. many of the same senators who have said to the president of the united states don't withdraw the troops from afghanistan, keep them there even longer, are now coming to the floor and saying to the president but we're not going to join in asking for the authority that you need to provide that money for those troops. now the senator from pennsylvania has come here the second day and given his take on what would happen if congress fails to extend the debt
an example, the war in afghanistan. some of the most conservative senators on the other side of the aisle not only want us to wage this war but to stay there and keep spending money. know what it costs? it costs $10 billion a month for us to protect our troops in afghanistan. for every dollar that we spend, every dollar that we spend, whether it's on the war, on food stamps, on missiles, on highways, for every dollar we spend we borrow 40 cents. we shouldn't be borrowing all this money, but we...
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Jul 20, 2011
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president to sustain our military force io afghanistan. that is literally what we'ren do taught about here in this debate. the american people are turning to come to understand it because when you first ask a person, tht obvious answer is no, are you crazy, senator? by what i want one of them in this country? we need more less stack, notts e more. when you go to the point ofjusto explaining that this is to pay d for things we authority -- that's the authority incurred, it isn't just a wage of war. 65a it is a debt incurred to pay fot medicare. we staaidl a to 65-year-olds acr america, you get medicare that will be there when you need pay. when you go to the hospital and turn your bills, will pay thejor hospital and we borrow money to do it. yield? >> thank you. i just walked in i appreciate w your comments about where weereh had h were. of 10 years ago we had a budget surplus in this country as you , recall. we had a number quarter after quarter of economic growth than we know the coming outcome when you have economic growth obviously the
president to sustain our military force io afghanistan. that is literally what we'ren do taught about here in this debate. the american people are turning to come to understand it because when you first ask a person, tht obvious answer is no, are you crazy, senator? by what i want one of them in this country? we need more less stack, notts e more. when you go to the point ofjusto explaining that this is to pay d for things we authority -- that's the authority incurred, it isn't just a wage of...
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Jul 22, 2011
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the current inventory is getting old and worn down from iraq and afghanistan. some equipment can be refurbished with life extension programs, but there is no getting around the fact that others must be replaced. when it comes to our military modernization accounts, he said the proverbial low-lying or low-hanging fruit, those weapons and other programs considered most questionable have not only been plucked, they have been stomped on and crushed. what remains are much-needed capabilities relating to our air superiority, our mobility, long-range strike, nuclear deterrents, maritime access, space and cyberwarfare, ground forces, intelligence, surveillance and reconnaissance that our nation's civilian and military leadership deemed absolutely critical. and he gave examples of a new tanker. he noted the ones we have are twice as old as many of the pilots who are flying them. a new generation strike fighter, the f-35. he said we have got to build more ships. the size of the navy has sunk to the lowest number since prior to world war ii. the army and marines, doing th
the current inventory is getting old and worn down from iraq and afghanistan. some equipment can be refurbished with life extension programs, but there is no getting around the fact that others must be replaced. when it comes to our military modernization accounts, he said the proverbial low-lying or low-hanging fruit, those weapons and other programs considered most questionable have not only been plucked, they have been stomped on and crushed. what remains are much-needed capabilities...
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Jul 21, 2011
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new zealand is a country that is in enormous partnership with us at this time, assisting in afghanistan, engaged in transpacific trade deliberations with us, and in many, many other ways contributing to one of the strongest and best partnerships we have on a global basis. therefore, i would ask unanimous consent that the senate stand in recess subject to the call of the chair so that colleagues might welcome the prime minister to the floor of the united states senate. the presiding officer: is there objection? without objection, the senate stands in recess subject to t twitter.com c-span wj is how you can reach us. one of the headlines this morning. the deficit cutting plan too much too late. talks between various members. the government reporter can we first go on to the gang of 6 proposals? if from bloo bloomberg news. is that what they are thinking on capitol hill today? >> yes. the gang of six came out with their proposal. it's fairly sweeping. i think there's a sense more among -- there's a sense among some lawmakers that they are trying to sign on to this. there was a letter that
new zealand is a country that is in enormous partnership with us at this time, assisting in afghanistan, engaged in transpacific trade deliberations with us, and in many, many other ways contributing to one of the strongest and best partnerships we have on a global basis. therefore, i would ask unanimous consent that the senate stand in recess subject to the call of the chair so that colleagues might welcome the prime minister to the floor of the united states senate. the presiding officer: is...
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Jul 26, 2011
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the american people would begin to recognize these savings from withdrawing from iraq and afghanistan. and essential education, job creation, housing, and environmental investments where america's economic recovery and for our strong economic future would be protected from the slashing cuts proposed by the house republicans. the irony is, republican leaders previously have backed all the spending reductions called for in leader reid's plan. now, i don't agree -- and i suspect all of us don't agree with all aspects of this proposed solution. but we're not going to have 100 solutions on this floor. we're going to have one that we can vote on. i wish this would have included new revenue, especially by ending such costly and outdated tax benefits as those still enjoyed by the biggest oil companies to help us pay off our debt even more quickly. i'd like to help pay for the debt incurred by the inexcusable earlier decisions to enter two wars without paying for them. and i continue to believe the surcharge for the wealthiest would mean that they would pay more of their fair share after so ma
the american people would begin to recognize these savings from withdrawing from iraq and afghanistan. and essential education, job creation, housing, and environmental investments where america's economic recovery and for our strong economic future would be protected from the slashing cuts proposed by the house republicans. the irony is, republican leaders previously have backed all the spending reductions called for in leader reid's plan. now, i don't agree -- and i suspect all of us don't...
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Jul 21, 2011
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over the entire decade, the cost of afghanistan and iraq wars is about $1.3 trillion. and that is a lot of money. again, that's over ten years, over a decade. this year alone, the deficit is expected to be $1.4 trillion. the deficit this year will be larger than the cost of the iraq and afghanistan wars over ten years. the driving force behind our deficit is not the wars in iraq and afghanistan. it's just not. war costs represent only 4% of total outlays over the last ten years. the total amount of money spent since president obama took office is $8.5 trillion. by the end of his first three years in office, we will have added $5 interest to our gross federal deficit. these are stunning numbers. bush had a widely criticized $450 billion deficit. since president obama has been in ofsz the deficits -- in office the deficit looks like it will be $1.5 trillion. we are borrowing too close to half of what we're spending every single day. in the last few years, discretionary spending, non-defense discretionary spending in the last two years increased 24%. 12% a year on average
over the entire decade, the cost of afghanistan and iraq wars is about $1.3 trillion. and that is a lot of money. again, that's over ten years, over a decade. this year alone, the deficit is expected to be $1.4 trillion. the deficit this year will be larger than the cost of the iraq and afghanistan wars over ten years. the driving force behind our deficit is not the wars in iraq and afghanistan. it's just not. war costs represent only 4% of total outlays over the last ten years. the total...
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Jul 12, 2011
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and, yes, maybe we've got to bring the troops home from iraq and afghanistan sooner than many here would like or that the president would like, and save substantial sums if we do that. most certainly if we're going to go forward with shared sacrifice, yes, we do have to ask billions, despite all of their power and all of their campaign contributions and all of their lobbying, maybe the billionaires who are doing phenomenally well may have to contribute to deficit reduction. yes, maybe those companies that stash their money in tax hyphens in pwerpld and the cayman eye hraldz -- in bermuda and the cayman islands, maybe they are going to have to start paying their fair share. on my web site which is sanders.senate.gov, i put a small letter which said to the president, mr. president, stand tall. take on these right-wing ideologues who want to make devastating cuts to working families. and in a couple of weeks we have 135,000 signatures on that letter, and i think that letter reflects what the american people want. they want shared sacrifice. they do not want to see the elderly, the kids or w
and, yes, maybe we've got to bring the troops home from iraq and afghanistan sooner than many here would like or that the president would like, and save substantial sums if we do that. most certainly if we're going to go forward with shared sacrifice, yes, we do have to ask billions, despite all of their power and all of their campaign contributions and all of their lobbying, maybe the billionaires who are doing phenomenally well may have to contribute to deficit reduction. yes, maybe those...
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Jul 27, 2011
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forces in iraq and afghanistan, saving $1 trillion in the process. our troops in the middle east deserve our admiration and praise for so successfully carrying out their missions. we must, however, continue to press for a strategy that will bring our troops home as soon as we safely can. the reid deficit plan would find an additional $40 billion in savings by cutting fraud and abuse in tax compliance and a number of non-defense federal programs and $60 billion in other savings, including cutting unnecessary spending on agricultural subsidies and auctioning off electromagnetic spectrum that the government currently holds. finally, by cutting the government by over $2 trillion, we'll have to borrow less money than anticipated and that will save an additional $400 million -- sorry, $400 billion in projected interest costs. in total, the senate democratic plan on which we will vote would cut the deficits by $2.7 trillion over the next ten years. while senator reid's proposal would not address the tax gimmicks and loopholes throughout our tax code that he
forces in iraq and afghanistan, saving $1 trillion in the process. our troops in the middle east deserve our admiration and praise for so successfully carrying out their missions. we must, however, continue to press for a strategy that will bring our troops home as soon as we safely can. the reid deficit plan would find an additional $40 billion in savings by cutting fraud and abuse in tax compliance and a number of non-defense federal programs and $60 billion in other savings, including...
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Jul 25, 2011
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you could pull out of iraq, afghanistan and southwest asia tomorrow. you could end up eliminating all congressional earmarks and you could eliminate all foreign aid which people think is a big number but it's not, that's about 15 to 20% of the problem. the government has grown too big, promised too much, waited too long to restructure. yes, we're going to have to have more revenues as compared to historical levels but we need to go about it in an intelligent way that will make our system fairer, more equitable, more comparative and it will promote job growth and promote innovation. last i think this, on the comeback america initiative, preemptive framework, there's an additional $500 billion for critical investments over the next two years in order to help the economic recovery and to deal with unemployment. nonetheless, the net spending reductions over the next 10 years are over 3 trillion. so, yes, we need to do some things to make sure we recover and get unemployment down but if we don't end up putting our finances in order we're going to have much
you could pull out of iraq, afghanistan and southwest asia tomorrow. you could end up eliminating all congressional earmarks and you could eliminate all foreign aid which people think is a big number but it's not, that's about 15 to 20% of the problem. the government has grown too big, promised too much, waited too long to restructure. yes, we're going to have to have more revenues as compared to historical levels but we need to go about it in an intelligent way that will make our system...
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Jul 15, 2011
07/11
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the treasury of enormous amounts of money at a time that we had two wars raging abroad in iraq and afghanistan, also unpaid for. and a new entitlement program passed in the past congress unpaid for. and a wall street that instead of being a free market was a free-for-all market. you put that all together and that's what we're coming out of. so i'm wondering, you know, your answer to me suggests that there isn't anymore monetary policy that is going to come forward that could in essence seek a more faster, more robust recovery with a greater job growth? >> well, as i said in my, in my testimony, we, given that there's a lot of uncertainty how the economy will evolve, we have to keep all options, both for tightening and for easing on the table. we're doing that. but, again, we are already providing an exceptional amount of accommodation and, as you know, recovery is still pretty slow. >> now i want to turn to the question of the debt ceiling. i know you discussed that quite a bit. i find it interesting under president bush's years, he raised the debt ceiling to the tune of about $5.4 trillion, d
the treasury of enormous amounts of money at a time that we had two wars raging abroad in iraq and afghanistan, also unpaid for. and a new entitlement program passed in the past congress unpaid for. and a wall street that instead of being a free market was a free-for-all market. you put that all together and that's what we're coming out of. so i'm wondering, you know, your answer to me suggests that there isn't anymore monetary policy that is going to come forward that could in essence seek a...
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50
Jul 14, 2011
07/11
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denying the federal treasury those moneys at a time in which we had two wars raging abroad in iraq and afghanistan and new entitlement program unpaid for, and a marketplace that instead of being a free market, which i support, became a free-for-all market in which investor decisions end up becoming collective risks to the entire country. and that's what we have been facing. instead of meeting this responsibility, they favor cuts in entitlements to seniors, to the disabled, the families struggling to make ends meet, to students seeking to get the college education that can help fuel america's prosperity. that's what we saw in the house republican budget that passed. but are willing to decimate our nation's economy to protect entitlements for the rich. they've dug in their heels and walled off irresponsible, unnecessary tax breaks for big oil companies. they've walled off entitlements to multibillion-dollar corporations and millionaires who need no entitlements because they believe, blinded by their ideological haze, that the rich are entitleed to their outrageous ways even if it means ballooning th
denying the federal treasury those moneys at a time in which we had two wars raging abroad in iraq and afghanistan and new entitlement program unpaid for, and a marketplace that instead of being a free market, which i support, became a free-for-all market in which investor decisions end up becoming collective risks to the entire country. and that's what we have been facing. instead of meeting this responsibility, they favor cuts in entitlements to seniors, to the disabled, the families...